Parametric pension reform and the intensive margin of labor supply, evidence from Colombia
| Data(s) |
2015
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|---|---|
| Resumo |
We analyze the effect of a parametric reform of the fully-funded pension regime in Colombia on the intensive margin of the labor supply. We take advantage of a threshold defined by law in order to identify the causal effect using a regression discontinuity design. We find that a pension system that increases retirement age and the minimum weeks during which workers must contribute to claim pension benefits causes an increase of around 2 hours on the number of weekly worked hours; this corresponds to 4% of the average number of weekly worked hours or around 14% of a standard deviation of weekly worked hours. The effect is robust to different specifications, polynomial orders and sample sizes. |
| Formato |
application/pdf |
| Identificador | |
| Publicador |
Facultad de Economía |
| Relação |
Serie documentos de trabajo. No 176 (Enero 2015) https://ideas.repec.org/p/col/000092/012476.html |
| Direitos |
info:eu-repo/semantics/openAccess |
| Fonte |
instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR instname:Universidad del Rosario Attanasio, O.P. and Rohwedder, S. (2003). “Pension wealth and household saving: Evidence from pension reforms in the United Kingdom”. American Economic Review. 93. 1499-1521. Barr, N.A. and Diamond, P.A. (2008). “Reforming pensions: Principles and policy choices”. Oxford University Press, USA. Battistin, E.; Brugiavini, A.; Rettore, E. and Weber, G. (2009). “The retirement consumption puzzle: Evidence from a regression discontinuity approach”. The American Economic Review. 99. 2209-2226. Blinder, A.S., Gordon, R.H. and Wise, D.E.(1981). “Reconsidering the work disincentive effects of social security”. National Bureau of Economic Research Cambridge, Mass., USA. Bodor, A., Robalino, D. and Rutkowski, M. (2008). “How Mandatory Pensions Affect Labor Supply Decisions and Human Capital Accumulation? Options to Bridge the Gap between Economic Theory and Policy Analysis”. University Library of Munich, Germany. MPRA Paper 12046. Borsch-Supan, A. (1998) “Incentive effects of social security on labor force participation: evidence in Germany and across Europe”. National Bureau of Economic Research. Burtless, G. (1986). “Social security, unanticipated benefit increases, and the timing of retirement”. The Review of Economic Studies. 53. 781-805. Calder´on, V. and Marinescu, I. (2011) “The Impact of Colombia’s Pension and Health Insurance Systems on Informality”. Inter-American Development Bank. Corbo, V. and Schmidt-Hebbel, K. (2003). “Efectos macroecon´omicos de la reforma de pensiones en Chile”. Resultados y desaf´ıos de las reformas de pensiones. Danzer, A. M. (2010). “Retirement Responses to a Generous Pension Reform: Evidence from a Natural Experiment in Eastern Europe”. Institute for the Study of Labor (IZA). IZA Discussion Papers 4726. Friedberg, L. (2000).“The labor supply effects of the social security earnings test”. Review of Economics and Statistics. 82(1). 48-63. MIT Press. Gruber, J. and Wise, D. (1999) “”Introduction to ”Social Security and Retirement around the World”. National Bureau of Economic Research. 1-35. Hahn, J., Todd, P. and Van der Klaauw, W.(2001). “Identification and estimation of treatment effects with a regression-discontinuity design”. Econometrica. 69(1). 201-209. Hurd, M.D. and Boskin, M.J. (1984). “The effect of social security on retirement in the early 1970s”. Quarterly Journal of Economics. MIT Press. 99(4). 767-790. Imbens, G. and Kalyanaraman, K. (2009). “Optimal bandwidth choice for the regression discontinuity estimator”. National Bureau of Economic Research. Imbens, G.W. and Lemieux, T. (2008). “Regression discontinuity designs: A guide to practice”. Journal of Econometrics. 142(2). 615-635. Krueger, A.B. and Pischke, J.S.(1992). “The effect of social security on labor supply: A cohort analysis of the notch generation”. Journal of Labor Economics. University of Chicago Press. 10(4). 412-437. Lee, D.S. and Card, D. (2008). “Regression discontinuity inference with specification error”. Journal of Econometrics. 142(2). 655-674. Mesa Lago, C. (2002). “La reforma estructural de las pensiones de seguridad social en Am´erica Latina: modelos, caracter´ısticas, resultados y lecciones”. Econom´ıa y Sociedad. 19. Mesa-Lago, C.(2004). “ Evaluaci´on de un cuarto de siglo de reformas estructurales de pensiones en Am´erica Latina”. Revista de la CEPAL. 84. 59-82. Van der Klaauw, W. and Wolpin, K.I. (2008) “Social security and the retirement and savings behavior of low-income households”. Journal of Econometrics. 145. 21-42. |
| Palavras-Chave | #Economía laboral #Derecho laboral #Pensiones - Aspectos económicos #Pensiones - Aspectos jurídicos #Seguridad social #344.01252 #Labor supply #Regression discontinuity #pension system reform #Colombia |
| Tipo |
info:eu-repo/semantics/book info:eu-repo/semantics/acceptedVersion |
